News Release

Nov. 21, 2024

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned A Rating to Bonds of Poland

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 24-11

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 24-11

Nov. 20, 2024

JCR Assigned A-/Stable Long-term Issuer Rating to SWCC

JCR Affirmed BBB+/Stable Long-term Issuer Rating on ARAKAWA CHEMICAL INDUSTRIES

JCR Affirmed BBB-/Stable Long-term Issuer Rating on IKAI

JCR Affirmed AA/Stable Long-term Issuer Rating on Iyogin HD and IYO Bank

Joint Green Bond issuers (Local Governments): Assigned Green 1 to Joint Local Government Green Bond 3rd

MOTOYA EDUCATES, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Nov. 19, 2024

JCR Affirmed A/Stable Long-term Issuer Rating on Ezaki Glico

JCR Affirmed A/Stable Long-term Issuer Rating on SHIP HEALTHCARE HD

JCR Affirmed A-/Stable Long-term Issuer Rating on Hanwha Japan

JCR Affirmed AA-/Stable Long-term Issuer Rating on Daiwa House Global REIT

JCR Assigned AA Rating to Bonds of MORI HILLS REIT INVESTMENT CORPORATION

JCR Assigned A- to Sylph Limited Series 10282

JCR Assigned Preliminary AA- to Jointly Operated Designated Money Trust LY 2Y

JCR Assigned #A/Negative to eDirect Trust NF2

Nov. 18, 2024

JCR Affirmed A-/Stable Long-term Issuer Rating on IDEC

JCR Affirmed A+/Stable Long-term Issuer Rating on TIS and INTEC

JCR Affirmed AA/Stable and J-1+ on NIPPON STEEL TRADING

JCR Affirmed AA-/Stable Long-term Issuer Rating on NIPPON STEEL ENGINEERING

JCR Affirmed A-/Stable Long-term Issuer Rating on Nippon Light Metal HD

[ Asset Securitization Products ] JCR Affirmed A on US real estate secured loan securitization 2023

Hankyu Hanshin REIT: Reviewed Green Finance Framework Evaluation: Green 1(F)

Nov. 15, 2024

Change in Major Shareholders of Sumitomo Mitsui Trust Loan & Finance—JCR Will Focus on Management Structure, Joint Venture Shape, etc.

JCR Affirmed A-/Stable Long-term Issuer Rating on PACIFIC INDUSTRIAL

JCR Affirmed AAA/Stable Long-term Issuer Rating on National University Corporation Tohoku University

JCR Affirmed A+/Stable and J-1 on Nabtesco

JCR Affirmed AA-/Stable Long-term Issuer Rating on YAMAHA

JCR Affirmed BBB+/Stable FC Long-term Issuer Rating on Leonteq Securities

JCR Assigned AA- Rating to Bonds of POCKET CARD

JCR Assigned A+ Rating to Bonds of Star Asia Investment Corporation

KAMAYA, San ju San Bank: Second Opinion on Positive Impact Finance

Nov. 14, 2024

TOKYU LAND Announces Commencement of Tender Offer for Shares of Renewable Japan - No Impact on Rating of Tokyu Fudosan HD

Rakuten Group Announces Strategic Capital and Business Alliance between Rakuten Card and Mizuho Financial Group - Certain Positive Financial Effects

JCR Affirmed A+/Stable and J-1 on NICHIREI

JCR Affirmed BBB+/Stable (FC) on Acciona and BBB+ on Bonds of Acciona Financiacion Filiales

JCR Assigned A- Rating to Bonds of African Export-Import Bank

Nov. 13, 2024

JCR Upgraded Rating on Sanwa HD to AA-/Stable and J-1+

JCR Affirmed A+/Stable Long-term Issuer Rating on NSK

JCR Affirmed AAA/Stable Long-term Issuer Rating on Arab Bank for Economic Development in Africa

JCR Placed eDirect Trust NF1 under Credit Monitor #A/Negative

JCR Placed eDirect Trust NF2 under Credit Monitor Preliminary #A/Negative

JCR Placed Ganymede Limited Series 2023-83 under Credit Monitor #A/Negative

JCR Assigned A- to Libra A Limited Series C101

Japan Logistics Fund: Reviewed Green Finance Framework Evaluation: Green 1(F)

Nomura Real Estate Master Fund: Second Party Opinion on Sustainability Linked Finance Framework

Nov. 12, 2024

Sumitomo Mitsui Construction Revises FY2024 Earnings Forecast—Financial Resilience Will Decline, Putting Greater Downward Pressure on the Rating

JCR Upgraded Long-term Issuer Rating on NIPPON REIT Investment Corporation to AA-/Stable

JCR Affirmed BBB+/Stable Long-term Issuer Rating on HARIMA CHEMICALS GROUP

JCR Affirmed A-/Stable and J-1 on ASAHI SHINKIN BANK

JCR Affirmed AA-/Stable Long-term Issuer Rating on Kenedix Private Investment Corporation

JCR Assigned AAA Rating to Bonds of NTT TC Leasing

JCR Assigned A Rating to Bonds of Starts Proceed Investment Corporation

JCR Assigned A- to SPIRE SA Series 2024-388

Fuyo General Lease: Post-issuance Verification Report on Sustainability Linked Bond

Nov. 11, 2024

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Kanagawa Chuo Kotsu

JCR Affirmed AA-/Stable and J-1+ on Odakyu Electric Railway

Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) October 2024

Nov. 08, 2024

JCR Placed Rating on NISSAN MOTOR under Credit Monitor #A/Negative

JCR Placed Rating on NISSAN FINANCIAL SERVICES under Credit Monitor #A/Negative

JCR Assigned A/Stable Long-term Issuer Rating to Open Up Group

JCR Assigned Preliminary A+ Rating to Subordinated Bonds of Tokyo Century

JCR Assigned Preliminary AA- Rating to Shelf Registration of JERA

Nihon Nekkan Kogyo, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Nov. 07, 2024

SCSK Commences Tender Offer for Net One Systems—No Immediate Impact on Rating

JCR Affirmed AA/Stable (FC/LC) on Mapletree Investments

JCR Removed Credit Monitor; Affirmed BBB on Amp Green Project Bond Trust (Miyazaki) Trust ABL

JTEKT: Second Party Opinion on Sustainability Linked Finance Framework

Nov. 06, 2024

JCR Affirmed AA/Stable Long-term Issuer Rating on Marubeni Private Real Estate Investment Trust

JCR Affirmed AAA/Stable Long-term Issuer Rating on Hokkaido University

JCR Affirmed A+ Long-term Issuer Rating on ES-CON JAPAN; Revised Outlook to Positive

[ Asset Securitization Products ] JCR Upgraded Class B Senior Beneficial Interest of DFC Beneficiary Interest 202106 to A-; Affirmed AAA on Class A1 and A2 Senior Beneficial Interest

Nov. 05, 2024

JCR Affirmed BBB+ Long-term Issuer Rating on WARABEYA NICHIYO HD; Revised Outlook to Stable

JCR Affirmed J-2 Rating on CP of JALUX

Nov. 01, 2024

JCR Assigned A-/Stable Long-term Issuer Rating to Eastern and Southern African Trade and Development Bank and Eastern and Southern African Trade Fund

JCR Removed Credit Monitor; Upgraded Rating on Bonds (Former Advance Logistics Investment Corporation bonds) of Mitsui Fudosan Logistics Park to AA; and Affirmed AA/Stable Long-term Issuer Rating

JCR Affirmed AA-/Stable Long-term Issuer Rating on AIR WATER

JCR Affirmed A/Stable Long-term Issuer Rating on Amagasaki Shinkin Bank

JCR Affirmed A-/Stable Long-term Issuer Rating on Shiba Shinkin Bank

JCR Withdraws A- Long-term Issuer (FC) and Bond Ratings on CPI Property Group

Ebine Construction, The Joyo Bank: Second Opinion on Positive Impact Finance

Marusui Sapporo Chuousuisan, The Hokkaido Bank: Second Opinion on Positive Impact Finance

Oct. 31, 2024

JCR Assigned A+/Stable Long-term Issuer Rating to SHIMIZU PRIVATE REIT

JCR Assigned A/Stable Long-term Issuer Rating to JAPAN NUCLEAR FUEL

JCR Assigned A/Stable (FC/LC) to New World Development

JCR Affirmed A/Stable Long-term Issuer Rating on Ogaki Kyoritsu Bank and Kyoyu Lease

JCR Assigned BBB+ Rating to Subordinated Loan of SoftBank Group

JCR Downgraded SPARX Biomass Green Project Bond Trust (Toki) Beneficial Interest and Trust ABL to BBB

Daiwa House REIT Investment Corporation: Assigned Sustainability Loan Evaluation: SU 1

Toyo Asano Foundation: Assigned Green Loan Framework Evaluation: Green 1(F)

Hoshino Resorts REIT, Mizuho Bank: Second Opinion on Positive Impact Finance

EASTWEST, The Bank of Yokohama: Second Opinion on Positive Impact Finance

SAIKAI TOKI, The Juhachi-Shinwa Bank: Second Opinion on Positive Impact Finance

MOTOI-NORI, The Bank of Kyoto: Second Opinion on Positive Impact Finance

YANO CONSTRUCTION, The Senshu Ikeda Bank: Second Opinion on Positive Impact Finance

yamatozaitaku, THE SHIZUOKA BANK: Second Opinion on Positive Impact Finance

Katoenoki, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

KAWAMURAKAKOU, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance